Tuesday, July 17, 2007

Macatawa shares hit year-low on weak quarterly earnings

(Reuters) - On Monday, the bank holding company had said non-performing loans were up $24 million since June 2006 and most of these increases were in loans to residential land developers.




The company also reported second-quarter earnings of 26 cents a share, down from 33 cents a share in the year-ago quarter. Analysts on average expected earnings of 29 cents a share, according to Reuters Estimates.


Read more at Reuters.com Hot Stocks News

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